Time magazine is counting its list of 100 most influential people in the world and ET's KEVIN FRAZIER was at tonight's bash in New York City for all the action, where the stars were buzzing about BARBARA WALTERS' new memoir, Audition.

"I just got it and I'm just about this weekend to sit down and read it," MARTHA STEWART said. "I'm sure it will be very interesting."

OPRAH's best gal pal GAYLE KING says it was good to finally hear Barbara's story.

"I thought it was so rare to see someone be so candid about a story that had been such a scandal -- for the lack of a better word," she said.  "We never really heard from Barbara herself what happened behind the scenes of 'The View.'"

And as far as STAR JONES' response? "I think Star Jones chose to speak her own truth too," Gayle said.

Presidential candidate JOHN McCAIN, ANJELICA HUSTON, LANCE ARMSTRONG, MATT LAUER, BRIAN WILLIAMS, ETHAN HAWKE, GAYLE KING, TINA FEY, TYLER PERRY, HARVEY WEINSTEIN, ROBERT DOWNEY, JR., LORNE MICHAELS, AMY POEHLER and KENAN THOMPSON were just some of the notables who strolled the red carpet.

The 2008 Time 100 issue on is newsstands now.